Karachi, March 25, 2019: The Institute of Business Administration (IBA) and Unilever Pakistan signed a memorandum of understanding (MoU) to establish subsidy fund of Rs.14 million for the National Talent Hunt Program (NTHP) students.
The objective of the fund is to empower underprivileged and praiseworthy students in acquiring higher education.
MoU between IBA and Unilever Pakistan will based on scholarships, the two parties agreed to use the returns from this subsidy fund to sponsor at least 1 student every year.
In the ceremony, the IBA was represented by Acting Executive Director Dr. Sayeed Ghani, Director Finance Moeid Sultan, Director Talent Hunt Programs Dr. Zeenat Ismail, Head of Alumni Relations and External Relations Malahat Awan, and Manager Resource Mobilization Zohaib.
Meanwhile Unilever Pakistan was represented by CFO Sohail Baig, Director Finance Aly Yousuf and Finance Manager Bilal Khan.
Marking this momentous occasion, Dr. Ghani said, “It is heartening to have assorted like Unilever invest in worthy initiatives such as the National Talent Hunt Program (NTHP) to make education accessible to the deserving students.”
About Institute of Business Administration (IBA)
Institute of Business Administration (IBA) is an independent university in Karachi, Sindh, Pakistan. Founded in 1955 by Pakistani government with the technical support from the Wharton School and the University of Southern California.
It is the oldest business school outside North America. It became the first Pakistani institute to offer a four-year liberal arts undergraduate degree. It remained a constituent school within the University of Karachi until, in 1994.
About Unilever Pakistan Limited
Unilever Pakistan Limited, formerly Lever Brothers Pakistan Limited was established in Pakistan in 1948. The town of Rahim Yar Khan was the site chosen for setting up a vegetable oil factory.
Also it is the largest fast-moving consumer goods (FMCG) company in Pakistan, as well as one of the largest multinationals operating in the country. Unilever’s head office was shifted to Karachi from the Rahim Yar Khan site in the mid 1960s.